Bhutan’s Bitcoin Sale, Yet Technical Indicators Suggest $80K Ahead

The price of Bitcoin continues to rise, even as a sovereign seller becomes more prominent, despite a bullish technical forecast. The Royal Government of Bhutan transferred an additional 319.7 BTC ($22.68 million) on Thursday, maintaining a liquidation process that has reduced its holdings by 70% since October 2024.

Bhutan discreetly sold 70% of its BTC over the past 18 months according to ARKHAM
• From 13,000 BTC → 3,954 BTC
• $215M sold in 2025 alone
• Remaining valued at $280M
Average selling price likely around $60K–$70K
Meanwhile… institutions are purchasing pic.twitter.com/jN8YRb4KCn

— Lucky (@LLuciano_BTC) April 11, 2026

Data from Arkham Intelligence indicates that approximately 250 BTC from Thursday’s transfer was sent to a wallet previously utilized for transactions through Galaxy Digital and OKX. An additional 69.7 BTC was directed to a new, unidentified address. Bhutan’s holdings have plummeted from 13,000 BTC to merely 3,954 BTC, still valued at $280 million, with $215 million exiting its holding addresses in 2025 alone.

While Bhutan is divesting, Michael Saylor’s Strategy acquired 4,871 BTC last weekend, U.S. spot ETFs absorbed around 50,000 BTC in March, and options markets are accumulating $80K calls.

Still stacking. $BTC

— Michael Saylor (@saylor) April 9, 2026

The contrast between Bhutan’s selling and institutional accumulation is creating one of the more intriguing technical scenarios Bitcoin has encountered this cycle.

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Bitcoin Price Prediction: $80K on the Horizon?

Bitcoin has recovered from lows of $67,000, establishing higher lows along an upward trendline. The current price of $72,000 is above the 50-day EMAs, a stacked configuration that historically signals continuation moves. MACD is exhibiting bullish divergence. RSI remains at 60, providing significant room before entering overbought territory.

Analyst targets are divided into two groups; some anticipate $79K–$80K as the immediate goal, referencing the H4 consolidation pattern and healthy retracement from recent peaks. Others concur on the near-term target of $79K–$84K but caution about a potential sharp reversal afterward, with $40K–$48K as a possible re-test.

BTC USD, TradingView

For Bitcoin, a decisive break above $77,500 on robust IBIT inflows could initiate a move toward $80,000. Alternatively, there may be further consolidation between $70,000–$72,000 as the market processes Bhutan’s selling pressure.

However, a close below $70,000 would reopen the $67,000 support cluster and jeopardize the recovery thesis.

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Bitcoin Hyper Targets Early-Mover Upside as Bitcoin Tests Key Levels

There is a notable tension in purchasing Bitcoin at this moment. The potential for an upside to $80K is tangible, but it represents only a 10% increase. The risk-reward assessment varies at earlier stages of the ecosystem. As BTC approaches its critical resistance band, focus is shifting to infrastructure projects being built directly on Bitcoin’s framework, where the multiples remain open.

Bitcoin Hyper ($HYPER) is positioning itself at this intersection. The project claims to be the first Bitcoin Layer 2 with Solana Virtual Machine (SVM) integration, aiming for sub-second finality and smart contract execution that the base chain cannot provide.

The proposition is not theoretical: the presale has already raised over $32 million, with $HYPER currently priced at $0.0136. Staking is active with high APY incentives for early participants. The Decentralized Canonical Bridge facilitates native BTC transfers, maintaining the security model anchored to Bitcoin itself.

For those already exploring the space, Bitcoin Hyper’s complete presale details are available here.

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